Canada Strategic Metals Starts Work Program at Sakami Gold Project

September 09, 2013 (Source: Marketwire) — Canada Strategic Metals Inc.(“Canada Strategic Metals” or “the Company”) (TSX VENTURE:CJC) (FRANKFURT:YXEN) (OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT) (OTCQX:MHREF) are pleased to announce the mobilization of a crew on site to complete detailed geological mapping on the JR area, a geochemical soil sampling on the JR and Island area, complete a mag survey on certain areas of the JR area and achieve a full sampling program including channel samples on the JR and Iles area. The Company also plans to start the permitting process and camp installation for a drilling campaign later in the fall and during the winter on the Point and JR areas. The Sakami project is located in the James Bay region of northern Quebec, approximately 570 kilometers north of Val-d’Or and 900 kilometers north northwest of Montreal. The property consists of a total of 120 mineral claims covering 6,032.18 hectares.

Jean-Sebastien Lavallee, President of Canada Strategic Metals, stated that: “Canada Strategic Metals is very excited to start the exploration program on this promising project that has already reported many gold discoveries and impressive gold intersections in drilling in many areas of the property.”

The property straddles the structural contact between the Opinaca and La Grande sub-provinces of the Archean age Superior structural province. This is a major structural corridor that occurs on surface as a 100 kilometer long “S” shape feature trending northeast to southwest. The Sakami Property covers approximately 35 kilometers of this structure, which is up to 500 meters wide on the property. Since 1998 Matamec has made a number of new gold discoveries within or near this structural zone.

To date most exploration work has focused on Zone 25 where stratiform gold mineralization has been found hosted by a sequence of strongly silicified quartzites, arkoses and felsic dykes within paragneiss of the Opinaca sub-province. This mineralized horizon occurs as an antiform-synform pair that plunges moderately to the southwest. Matamec drilling has intersected it within a surface area of approximately 150 meters by 160 meters, and to a depth of 220 meters. The thickest mineralization is developed within the hinge zone of the 2 interpreted folds with drill intercepts including: 2.62 grams per tonne (g/t) Au over 54.70 meters drill width from EX-10 and 4.16 g/t Au over 21.00 meters drill width in EX-22. A broad “envelope” of lower grade mineralization of approximately one gram per tonne gold characterizes the zone and encloses higher grade sections typically ranging from 1 to 3 grams per tonne Au.

Narrow high grade intervals occur throughout the horizon often associated with discrete quartz veins containing pyrrhotite and tourmaline (e.g. drill hole EX-31 which assayed 10.02 g/t Au over 2.82 meters near the hinge of the synform fold). Gold mineralization occasionally extends into the enclosing paragneiss of the Opinaca where it is also commonly associated with quartz veins. The mineralized horizon is open both down plunge and laterally along the fold limbs and there are indications that, to the northwest, it is extending back to surface.

Hole #

Au
(g/t)

Length*
(meters)

From
(meters)

To
(meters)

EX-1

2.38

7.90

91.90

99.80

EX-2

1.97

19.85

11.15

31.00

EX-3

2.13

10.20

49.80

60.00

EX-5

2.12

6.00

72.00

78.00

EX-9

2.93

4.00

125.00

129.00

EX-10 including

2.51
3.52

54.65
14.00

18.35
43.00

73.00
57.00

EX-13

2.96

8.25

160.50

168.75

EX-17

1.74

10.65

155.65

166.30

EX-18

2.04

11.52

228.05

239.57

EX-22 including

4.16
6.40

21.00
12.67

74.25
77.28

95.25
89.95

EX-23

3.60

7.45

186.55

194.00

EX-25

2.72

17.85

133.10

150.95

EX-27

1.17

8.20

162.75

170.95

EX-28

2.08
1.98

3.26
3.73

71.16
148.59

74.42
152.32

EX-29

2.09
3.43

19.50
1.50

190.50
273.50

210.00
275.00

EX-31 including

2.39
8.03

30.19
3.82

110.81
132.14

140.00
135.96

EX-32 including

1.72
2.17
12.23
3.43

22.13
12.16
0.50
3.16

117.97
127.94
130.64
136.94

140.10
140.10
131.14
140.10

EX-33

4.95
3.34

2.00
3.45

243.25
260.91

245.25
264.36

EX-44

1.51
2.18

6.09
2.42

169.47
232.85

175.56
235.27

EX-45 including

1.17
1.70

5.00
2.00

190.50
191.50

195.50
193.50

EX-47

1.25

12.00

258.00

270.00

Zone 25 selected intersections

* The length is along the core or the channel and may not represent true width

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Nearby at Zone 26, gold mineralization is hosted by a sulphidic banded iron formation present in mafic volcanics of the La Grande sub-province. This zone occurs within the interpreted hinge of a southwest moderately plunging syncline and has been traced by drilling for 140 meters along the fold axis and to a depth of 185 meters below surface. Seven drill holes have tested the zone and have intersected inconsistent gold mineralization with the best interval assaying 13.67 g/t Au over 7.35 meters. This high grade intersection occurs proximal to high grade sections intersected in Zone 25 (EX-31).

Hole #

Au (g/t)

Length*
(meters)

From
(meters)

To
(meters)

EX-19 including

9.22
13.67

12.55
7.35

53.80
58.25

66.35
65.60

EX-20

4.07

1.35

66.75

68.10

EX-31

2.75

1.50

63.79

65.29

EX-32

2.53
3.41

1.50
1.50

64.29
69.82

65.79
71.32

EX-48

1.00

9.00

49.00

58.00

EX-49

2.69

3.00

64.00

67.00

Zone 26 selected intersections

* The length is along the core or the channel and may not represent true width

Both Zone 25 and Zone 26 occur within fifty meters of the contact between the two sub-provinces.

Elsewhere on the property gold has been found at the JR, Bloc Peninsula and Kalmia Zones, but to date only limited work has been done. However, at the JR zone drilling of a coincident IP and magnetic anomaly intersected 1.43 g/t Au over 13.05 metres from a silicified paragneiss unit similar to Zone 25, but with magnetite. All these zones are found along or near the contact between the two major geological sub-provinces.

Grab sample

Channel

Au (g/t)

Au (g/t)

Length*

1.13

7.68

1.50

1.17

9.33

0.30

1.43

2.67

0.20

3.27

1.73

0.30

3.40

2.0

0.30

3.60

8.03

1.1

4.33

1.30

0.25

7.57

5.15

1.0

8.27

7.70

1.10

17.23

8.34

1.0

41.27

1.50

1.85

5.72

1.40

8.82

1.50

13.8

1.0

6.63

0.50

Zone JR, showing 9.6

* The length is along the core or the channel and may not represent true width

Grab sample

Channel

Au (g/t)

Au (g/t)

Length*

3.87

2.8

0.5

2.68

6.7

2.5

1.93

11.1

1.5

36.29

24.07

0.5

5.4

0.5

3.83

0.5

Zone JR, showing 43

* The length is along the core or the channel and may not represent true width

In connection with the acquisition by Canada Strategic Metals Inc. of an interest of up to 70% in the 120 claims including the Sakami property located in the James Bay region of Quebec.

In order to acquire an initial 50% interest, the company must issue two million common shares (one million within the first year) and carry out exploration work in the value of $2.25 million before August 16, 2016 ($500,000 within the first year). Within 180 days of acquiring the original 50% interest, the company may acquire the remaining 20% interest by issuing an additional 1 million common shares and completing an independent bankable feasibility study within 5 years of the date of the share issuance. During the period that the additional option is valid, the Company must spend a minimum of $2-million on exploration by the end of each year until the feasibility study is completed. In the event where the company renounces its option, the unspent portion of the $500,000 minimum in exploration expenses shall be paid in cash or in shares, at the sole discretion of the company. (Refer to August 19, 2013 press release at: http://www.canadastrategicmetals.com/en/investors/news-releases/canada-strategic-metals-and-matamec-announce-agreement-for-sakami-gold-project).

Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

The Company also announced that they settle $43,718.46 in outstanding indebtedness through the issuance to a creditor of 814,369 common shares at a price of $ 0.05 per share.

About Matamec Explorations

Matamec Explorations Inc. is a mining exploration company whose focus is developing the Kipawa HREE deposit with TRECan, with the goal of supplying Toyota with HREEs for the production of hybrid and electric cars. The company is exploring 35km of strike length in the Kipawa Alkalic complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property. Matamec is also exploring for gold at its Matheson joint-venture property, which is located along strike and in close proximity to the Hoyle Pond mine in Timmins, Ontario. In Quebec, the company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. For more information, please visit www.matamec.com.

About Canada Strategic Metals

Canada Strategic Metals is an emerging growth company focused on the exploration and development of its early stage projects covering over 60,000 hectares throughout Quebec. With management experience in green technology, and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising portfolio for its shareholders.